Situated in the Berner Oberland, Gstaad is home to a large ski area in the Alps (220km of slopes). The middle of the village features a picturesque promenade bounded by numerous shops, restaurants, art galleries, and hotels. Designer labels including Louis Vuitton, Hermes, Chopard, Brunello Cucinelli, Prada, Moncler, Ralph Lauren, and Cartier all have stores in Gstaad, while many smaller boutiques stock labels such as Chloe, Dolce & Gabbana, Tod's, Burberry, Dior, Oscar de la Renta, and Marc Jacobs.
Long known for its walking and hiking trails of varying degrees of difficulty, the mountain air and ambiance attracts guests year round from around the world. Gstaad is also known for its ski and cross-country slopes and winter hiking trails.
Gstaad, named "The Place" by Time magazine in the 1960s, is widely known for its famous part-time residents and vacationers. Famous regular visitors to Gstaad have included Madonna, Prince Charles and Princess Diana, former UN Secretary-General Kofi Annan, haute couture designer Valentino Garavani, writer William F. Buckley, Jr., and various members of the House of Cavendish. Many British bands and musicians would play at L'Atelier, a club in Gstaad, in the 1960s and 1970s; one such band was Merlin 'Q' (later Edison Lighthouse), who stayed a whole winter.
Gstaad is known for its luxury hotels, among them the Grand Hotel Park, the Alpina Gstaad, the Gstaad Palace, the Grand Hotel Bellevue, the Hotel Olden, and the Arc En Ciel.
In Gstaad, the following regular events are held:
- the New Year Music Festival of Gstaad, held by the Princess Caroline Murat
- the Sommets Musicaux de Gstaad classical music winter series
- the Snow Bike Festival, a winter snow biking event
- the FIVB Beach Volleyball SWATCH World Tour - 1to1 energy Grand Slam, beach volleyball tournament
- the Swiss Open, tennis tournament
- the Ladies Championship Gstaad, tennis tournament
- the Menuhin Festival Gstaad, classical music
- the Hublot Polo Gold Cup, polo tournament
- the Country Night Gstaad
- the Gstaad Promenade Party in September
- the Christmas Market Circus in December
- the International Week - Hot Air Ballooning in January
- the Gstaad Mountain Rides Open in January